Estonian governor supports fast fiscal reform
The governor of the Bank of Estonia, Ardo Hansson, discussed the benefits of the speedy implementation of fiscal reforms and budget balancing in a speech to a conference in Helsinki on November 27. Hansson highlighted the relatively fast adjustment in Baltic countries in comparison with Greece, Ireland and Portugal.
Fast adjustment has a number of advantages including a shorter period of uncertainty, the faster closure of non-viable firms, and, notably, avoiding the excessive accumulation of
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